Key facts
- US proposed unfreezing Russian sovereign assets to revive peace talks.
- European delegates rejected the US plan.
- The proposal was pitched by US special envoy Steve Witkoff and Jared Kushner.
- The New York Times reported the Trump administration offered billions in assets for a partial ceasefire.
The United States proposed that European countries unfreeze some Russian sovereign assets that were immobilized after Russia's invasion of Ukraine, in an effort to restart peace talks, the Financial Times reported on Wednesday, citing individuals briefed on the matter. European delegates rejected the plan, which was presented by US special envoy Steve Witkoff and Jared Kushner, according to the FT. The New York Times also reported that the Trump administration had offered Russia economic concessions, including the potential unfreezing of billions of dollars in assets, in exchange for a partial ceasefire. These concessions reportedly included releasing funds in advance of a truce and revisiting a plan to sell foreign assets of Lukoil to Middle Eastern investors. The status of these negotiations is currently unknown.